Marcum Wealth LLC Purchases 674 Shares of Apple Inc. (NASDAQ:AAPL)

Marcum Wealth LLC boosted its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,734 shares of the iPhone maker’s stock after purchasing an additional 674 shares during the quarter. Apple comprises approximately 2.0% of Marcum Wealth LLC’s investment portfolio, making the stock its 9th largest position. Marcum Wealth LLC’s holdings in Apple were worth $21,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Smart Money Group LLC lifted its position in Apple by 28.5% during the first quarter. Smart Money Group LLC now owns 6,309 shares of the iPhone maker’s stock worth $1,075,000 after buying an additional 1,400 shares in the last quarter. Mutual Advisors LLC boosted its stake in Apple by 7.0% during the first quarter. Mutual Advisors LLC now owns 674,326 shares of the iPhone maker’s stock worth $115,633,000 after buying an additional 44,374 shares during the last quarter. Integrity Financial Corp WA grew its holdings in Apple by 5.8% in the 1st quarter. Integrity Financial Corp WA now owns 29,400 shares of the iPhone maker’s stock valued at $5,041,000 after buying an additional 1,622 shares in the last quarter. Finally, Patron Partners LLC increased its stake in shares of Apple by 0.6% in the 1st quarter. Patron Partners LLC now owns 48,158 shares of the iPhone maker’s stock worth $8,258,000 after acquiring an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.9 %

Shares of AAPL opened at $235.06 on Wednesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a market capitalization of $3.55 trillion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. The stock has a fifty day moving average of $228.43 and a two-hundred day moving average of $219.01. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is currently 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. UBS Group upped their price objective on Apple to $236.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by company insiders.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.